HomeMy WebLinkAbout2307 ~ ~.-•...~..r :~1 ~ • ~W.~`+' -
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~he deHcaanc~?. Snchp~ ~~hall b~ ~a~de ~?ithia Lbir11(34~ da~s ~iter writtsn notics irom the Mort~ge~
~tatiag the ~uonount ot ~s
de~aiena~~ whioh uotice ma~. be ~tven b~ m~?il. It ~t aq~ tims Lhe Mortg~gor
a6a11 tender to the Moet~a~es in ~aoord~unce with the pmvi~wn~ of ths note recured bereb~r~ i~ill paymen~
of the eatirs indebtedne~s rnpre~snted t6ereby, Lhe Mortg~ges as trustee shsll~ ia aomputing the anxoaa~ ot .
such indebtedne~s~ exedit to t6e aooour~t ot the Mort,gagor un~ credit bul~nce reanain under the provisions
ot (i) oi saidp~ngrs ph 2. If there shsU be • deiwult under any of the provisionr of~is m rerultinB
in w public s~?
el of the prednises oove~+ed hereby, ar if the Ma ~aquirea the P~F~Y~erwise sfter
det~ult~ ttie Mortg:gee as trust~e sb~11 rPply~ at the time oi a commencemant of such proceediags or st
the time the property is othenvise ucqnired~ the ~mount then remrining to credit of Mortg~gor under (s) of
pMta~r~ph ~3 precediag as • c~edit on the iaterast accured :?nd unpsid and the b~lsnce to Lhe principal then
remainu~g unpaid on a?i~i nate.
4. He wID PR7? dl L?~ arewmes~b~ wrt~ee eate~. ~d otber ~o~am~twl or munteiPd ehar~ 8~. or
imporit~ioo~„` foe wLiol~ p+o~i~oo ha nwt been m~de bere~nbefore, and ia d~~?ulti thereot the Mart~es m~Y P~Y ~
Mme; and t~st be will pt~oaaptkjr de~iv~er t~he o~al reo~pb t6eretoc Lo L6s Mortg~ee.
6. He will pe~nit, oommiL, ae ao w~ i~np~irme~ or ~t~rior~?tioa ot e~id prope:t~ aan~ par6 t~ee+eof
aaoeepZ re~awu~ble we~r and t~ear• ~ad in t6e event of tbs f~ ot tbe Mort~a~or to keep W,s ldin~ on ~
pcemi~ aad Lba~s to be ee~ecte~ on ~id pe~emises. or i~nprovemeat~ thereo~n~ in ~ood repair tbe Mortga~ee my?
make ~ueh repatts w iu i4s di~etbn it m~y dee:n neo~ee~aty ior the P~P~ P~tion L6ereo~~ and the full amoua~
oE e~ah ~d ev~ery w~oh pa,yme~nt ~hall be due und p~ysble tbirt~+ (30) d~ys atter deaaand~ and shall be secured by
tbe li~ ot t~hi~ mort~r?.
a se ..m pr?y all ,u~a in~uLur tbe oo~l.,~~~~, .~a eacpe~e~ inoludin~ ra~so~n.ble Isw~'. iee., .na oord~
d abtsaafs ot title, ino~used or pdd nt ~nq? time by the Mort6ssee beosuse of Lhe fai.lure on the part of the Mo~~~or
ti
p~n~? ~d tu~r t,o parform t6s ~e~at~ a~rd oovenants af nid pc~as~ieAary not~e su?d thii ma ~ wnd eu{d
obs~r~e~, and eacp~e~ ~hall bs immediRte~r dus aod p?y~?bk ~ad ~il be eeoured by the liea of mortr~e.
T. Ss wia eo~t3anoa~? ma~nf~in La~ard imussa~os~ oi such ~pe or t~pe~ and ~?nmounb ~ Mort$ages a~~
f~ro~n dms to t~~ms rsqui~ on t~s imp~ra~remenb now or herreatter an ssid r~miia and eaccept ~rbsn pyrmaa`
lo~ ~II sucb premiam~ Lsn t~i~erstoiors been mads uader (s oi p~e~gra~h ~hereof ~e w~ill ga~y prompL1y when
.Sll insuranos ~11 bs a~r~ ia oomp~nies apgrove~ b~ Mo~rt~es and the polt-
dw aq~ p~sminmr L6Srsior.
~i,e~, and rana~way ~ abalt bs beld b~ Mortgag~as xnd hs~s att~ched t~Lersto loM p?r?bk ciswa i~ ia~or oi
~nd ia iorm aoosptable to t~e M In sveat ot lw~ he will gi~e immediats aotios by m~il to Mvrtg~6es~
ms~ ma~s p~ofa
o~ it mt made promptJ~? b~ Mortg~g~~ sad eaah insunao~ oomp~
ma s
oano~ea ~?ur~osissd .aa airaotea to make p.~m?enti ~or .uch lo~~ du~C. to Ma i~sce.a oi
to Mart~or ~d ~ort~~es 'oin , and ths ~udsur~aos prooeed~~ or ~a~' p~rt there~~ msy bw
ap~~
'~ed b~ I~ior~
at it~ opt3oa edtL~r to ~~uction oi the indsbtedaees hsreb~ ~ecured or to t~he re~Lorstwn or rep~s oi
~prop~ damagsd. In e~ant ot iaredo~ure of tbis mfl or ot6er trsnoier oi title to the mortgag~ed
»
proP~7 ~~~~?t ai t~s iadabLsdnew ~ecct~r+ed bereb7~ c~ht, ~it1e, and iatareat oi the Mortgagos
in ~ad xo aq~? i~uraaos poliiaies t~en ia toroe a6all p~ss to the puroh~er or grantes.
8. He will not execute or Sla of reoord any instrument which im~?oses a restriction upon tba N?la or occu-
pi?Yrcy of the proper~y de~cribed herein on the be~sis of rwe, oulor, or creed.
9. Ii the premises, or any psrt thereot, be condemned under t6e powe~ oi emiaent domain, a~ aoquired ~
for • public wset the dsmagee aarsrded, the proceeds ior the t~ski~c~g ot, or the oonsideratioa for ruah aoqui~i-
tioa, w tha ext,ent ef the iull amaunt of the r+atne~ining uagaid indebtedue~s secutred by t~hi,s mort~age, are
hereby~ sesigned to tt~e Mort~gagee, and his heir~ or aesigns~ snd shall be paid forth~vitb to eaid M~-
egee
or bir ee to be ~p ; ed on ac~coun~ of Lhe lsst msturin~ inrt,sllmoats oi suah iadebtnen • pmvided,~ow- .
ever, th~ort~gee or~ aai,gaee1 nuy at his discretion p~y direct to the ~ortgag~or, his ~eirs or a~signe.
any part or all ofiua~ awsrd; prov~ded~ that ii the loan is guarantaeed or in~ured, the oonsent of t~s guarsn-_
tt?r or msurer is obtaiaed in ad~snoe oi ssidpayment. ~
10. Tl~e Mortg~gee m~y~ ~t m t~ime ~en
'dmg s suit upon thi~ aao ~pply,to the oourt b~ving juriedic-
tion thereoi for the apgointment a~~ r~ceiver, aad such taourt shrll ia~t~ s~point a receiver of the premisei' -
co9ered hereby all and aingular, includ'u~ aU sad aingular the income, profits, iesues, and revenues irom whst-
aver erource denved, each and every oi which it beu'~g expreasly un~er~atood, is hereby mortgaged se if gpecifica~llY-`
wet far~ and described in t~e Bz'sntinB uY?~ hsbe~dum clsuses bereof. $uc4~ ~ppoiatineni~ shell be mtde by
such court as an admitted equity and s m~tter of abeolute right to u?id Mortgagee~ and without-reference to ~ ti.:
the sdequ~c~ or inad e
quacy of the value of the pmperty ~ortgaged or to the solreacy or insolvenc~? of asid, ;
Mo r or tbe dcfen danta. 3uch rents, profits, income, ~seues~ r?u
d revenues a
b a
l
l b e ~pp
l i e d by su c
h rec;eiver ~
~cco~ to tha lien of Lhis mortgage r?nd t.he practice of such mourt. In the event ot suy defsult on tLe part
of the Martg~gor hereunder~ t~e Mortgagor a$rees to psy to the Mo agee on demand ~s a reasonable monthlv
rental for the premisee aa amount st least equivalent to ono-twclfth ~f the ~'agate of the twelve monthly
installments payable in the then current year plus the actusl amount oi the unaual t~a~ce~, aeeesameats, wster
rat~, and insurance premiums for such year•nat oove~red by the sforaud manthly p~ymenta.
11. In tbe even~ of any breach of this mortgege or dciaulL on t}xe part af the Mortgagor~ or in the event
thst oay of s~id surns ai money herein referred to be not promptly and fully paid according ta tha tenor heraoi
s~
or in the event th~?t each aad every tbe stipulNtions, agreements oonditions, and covenants of ssid note sn
this martgage, are mr,t duly~ promptly, and fully performed or i~ the Mortg~gor be sdjudicsted bankrupt or
made defendant in s b~lQUptcy or recxivet~ship proceedings; thcn in either or any such eveat, the said aggre-
gate sum mentioned in ssid note the:r rem unpud, with int~erest accrued ta thst ti~n~e~ ~Ad ~ IAOAEy
' ~ecured hereby shall become due ~nd pay~b~orthwith~ or theredter, at the option of aaid MorLgagee, . aa
, fully and comg{etelp ae ii all tha wid sums oi money were originally atipulsted to be paid oa euch day~ ew,r-
~ t~ing in said nota or in thir a~art~age tv the contrarl notwitbstanding; sad thereupon or therestter~.Rt the option
~ of w~d Mortgsgse~ w?ithout notace or demsnd~ szut at la7r ur in equity, may be proeecuted as d all monevs
i ~ecured herebq b matured prior to it~~imstitutioa. The Mor~ mi?y fonclose t~ue mortgsge, ar to t~e
' smouat ~o declared due und payable~ snd t,ha uid premises shall wld to satisfy and ps~ the ssme tog~ether
` ~ith casts expenses~ ~?nd sllowanc~es. In ea~e at partiat forxloaure oi this mortg~ge~ the mortgaged premusrd
ahall be eo~d eubject to the continuing tien of thie morZga~e tor tYhe +~moun~ oi tbe debt aot then due and idnpRid.
~n such c~as the proviao~ns oi this para~r~ph ma~ y~sui b~ ~~ailed oi there~fter trom ti~e to time by th~
. Mo:e~a~w. ' .
12. No waivea~ ot an~ oov~?~nt herein or oi t!u obligatioA secured hereby ahall ~?t any time therestter,be
~ ~eld to be a w.iver oi the t~er~ns Lereoi ar of tbe note ~ecured Lareby.
13. Ths lien ot tbi~s uattvareat otall remain in full f~rco and e~ect durin~ Rny postponement or extensio~
1 ot tbs t3ms oi paJ~t oi tLe indebtedaew or auy part theraot ~ecured }~cceby.
14. 7~ ~ge i~ poea to aecure tbo purch~ee mo~ne~r~ ~r s part Lhec~f, ot the lands herein descri~ed p.
~ and i~t eiecuted~ deli~esed conte~o~porwoowl, witb the deed t~ret~. LC~.
15. Ii t6e Mo~tgsgur dei~ult in aay oi the oo.enaats or ~p~eemenb coatained herain, or in ~id aote, tben •
~ t~s Ma~tgage~s ~u?~_perfotm the s~me, and all e~cpenditw~es~including reawn~ble ~ttarne~'s fae) m~ b~ !he
~ M~~ m~o~~ ~Lall dnw interest at the ra~te pro ed for in the prinei~~l indebtedne~s~ ~ud shnll bc
~ re~y~ble t~irty (30~ 7sys dtec deaa~ad~ ackd, to~getl~r with interat and cats ~ectued t~l~ereoa, ~ua! be ~ecurad
, b~ tbu mortg~e. ,
; 18. Upon ths request ot tbs Ma the Mortg~gbr ~hall exeeu~s ~nd deL~e~r s mppleraenisl nate oe
: i notes foic tbe ~am or sums ~dranoed by ~e Mortgagee tar tbe alterrtion~ a~adernisat3~?, irapm~re~nernt. msi~o?• '
~e
te~ancs, or repair oi said pre~nises, for t~a or aeoe~smenta agains~ Rhe saa?e aad for aa~ oW~t purpae suthon ~o •
n
ised l~raunder. 8aid notie or notei ehall be ~ecured hereby on M p~an~t~y ~?itb and as iulip ws d the ~d~~na oao
i ~rrid~raaed tl~sby we~s iacluded ia Lhe nate ~nt dacribed abovs. Said suppleineata! nots or ~rotes ~Lall beae '